Mexico’s President submitted to Congress the economic proposal for 2022 on 8 September 2021. The proposal would require taxpayers to prove they have a valid business purpose for restructurings, mergers and spin-offs. The proposal also would modify the requirements nonresidents must satisfy for electing to be taxed on a net basis, including the requirements for appointing a legal representative. In addition, the Proposal would: (1) expand the information auditors must include in tax audit reports; (2) subject certain taxpayers to additional reporting requirements; and (3) clarify that a VAT credit would only apply for the importation of goods if the importation documents were in the taxpayer’s name.
Source
Latest Posts in "Mexico"
- Mexico’s 2026 Tax Package Introduces Stricter Electronic Invoice Rules and Criminal Penalties
- Mexico Broadens Registry of Companies Under Digital VAT Regime
- Mexico Updates List of Registered Non-Resident Digital Service Providers for September 2025
- Understanding VAT Compliance and CFDI Requirements in Mexico’s Tax System
- E-invoicing in Mexico: A Quick Guide to CFDI Compliance
